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January 31 2011

Operation HOPE Announces Partnership with MasterCard Worldwide to Support Economic Empowerment and Financial Literacy

Partnership includes construction of flagship HOPE Center and support for youth financial
literacy campaign

Los Angeles - January 31, 2011 - Operation HOPE announced a five-year partnership with MasterCard Worldwide to support the nonprofit's overall mission to promote financial literacy and economic empowerment to individuals across the nation and worldwide.

“I believe there is much more that the payments industry can do to help educate consumers on the use of electronic payments and which solutions are best suited to help them achieve financial independence and realize their potential,” said John Hope Bryant, Founder, Chairman and CEO Operation HOPE, Inc. “For example, I remember as a young man trying to become an entrepreneur how a few well managed credit cards also helped me launch, bridge and grow many of my initial business ideas when traditional forms of capital were simply unavailable to me.”

As part of this strategic partnership HOPE and MasterCard have signed the Financial Literacy and Empowerment Leadership Framework Agreement which supports multiple initiatives to help to ensure that individuals have access to opportunities to achieve financial independence and realize their potential The initiatives include :

  • National and Global Financial Literacy Programs
  • Consumer Protection and Education
  • Volunteerism
  • Adult Financial Literacy and Economic Empowerment Education
  • College and University Financial Literacy Programs
  • Expansion of Web-Based Digital Support for Consumers

“MasterCard has a long standing commitment to financial inclusion through support of educational and skill-building initiatives that aim to empower individuals to access a better life,” said Ajay Banga, president and chief executive officer, MasterCard Worldwide. “We are proud to partner with Operation HOPE to contribute to the economic growth of communities and increase opportunities and life outcomes for individuals.”

In addition, MasterCard will support the construction and operation of the flagship HOPE Center, housed at the Martin Luther King, Sr. Community Resource Center in Atlanta, GA and the FIVE MILLION KIDS Initiative (5MK) Make Smart Sexy Tour. 5MK's mission is to connect financial literacy to the aspirations of youth by teaching them to use education and the “language of money” as tools to help them realize a self-fulfilling and successful life. The tour will involve partnering with private and public sector leaders to bring financial education to high schools across the nation.